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Thursday, January 3, 2019

Yup.Local REALTORS have been saying it for months now; the market is flat. That means no more ever soaring prices. Yes, Mr. Seller, that means you need to conservatively price your home to sell it. To get an offer. And the offer you get, you better not blow it off because it is too low.And you non-Native Texans? You can't low-ball Texans. It is frowned upon. Also, this isn't a low-ball market. Not by a long shot. Listen friends, it is a FLAT market, or perhaps you'd prefer "even?" It's an even market: as much in the seller's favor as the buyer's No overpricing.No low-balling.Even.Fair.Flat.Even.https://www.wsj.com/articles/the-u-s-housing-boom-is-coming-to-an-end-starting-in-dallas-1543248073?mod=e2fb

Tuesday, December 18, 2018

Christmas is celebrated in a multitude of rich and cherished traditions. This illustrated timeline, brought to you by Balsam Hill Christmas Tree Company, captures the flow of some of the most popular Christmas traditions and figures throughout Christmas History.

Wednesday, December 12, 2018

Hey you loan officer that always email me, spam me, call me.... UGGH! You can't have my buyers/borrowers because they are going to Supreme Lending and my trusted lender, Joe Boggs. However, you CAN go to work at Joe's office!

Tuesday, July 31, 2018

​​​​Carey Marin at BusinessWire
writes that Tellus Group, a joint venture of Vä​​rde Partners and developers
Craig Martin and David Blom, has purchased the Windsong Ranch from the
Terra Verde Group.

The 2,030-acre master-planned​ community is at 1001 Windsong Pkwy. S. At
full build-out, the community will have 3,100 single-family homes, 600
acres of open green space, and 150 acres of mixed-use development.

Tuesday, February 27, 2018

Standard & Poor's/Case-Shiller Home Price Index shows that Dallas home prices still increasing, but slowing...

Steve Brown at the Dallas Morning News writes that Big D's home prices increased 6.9 percent year over year in December,
according to the Standard & Poor's/Case-Shiller Home Price Index.

That's slightly higher than the nation's 6.2 percent gain, but it was
the smallest percentage price rise for Dallas ​home values in almost
five years.

North Texas home price increases have been slowing for months after hitting record levels in 2017.

A combination of larger home inventories and buyer push back against
high prices has slowed the rate of area property appreciation, analysts
say.

In contrast to the proven reputation of the S&P index, you can find a random residential appraiser who will tell you home sales are slowing or stable. Why? Well, most appraisers are just involved in a transaction to get paid. Paid through an archaic and federally supported not-needed dogma that is supposed to protect the buyer. See, the lender has to get an appraisal so that he can resale the loan on the back side to investors but according to the too-influential FHA guidelines.

The appraiser who takes his job too seriously and refuses to allow for market pressure is a guy who think his shoulders alone can carry the burden of controlling the free market.

Wednesday, December 13, 2017

I should warn the GoDaddy that their servers are about to get overloaded... Here are the new TREC advertising rules for real-estate-ors. HOLD ON TO YOUR HATS!

These new rules are... [about] clarity of advertisements for consumers
with the least restrictions on license holders. ...Senate Bill 2212, ...made
changes to the regulations governing advertising for brokers and sales
agents, eliminating an age-old law that the advertiser be identified as a
broker or agent in all advertising. However, it clarifies that an
advertisement is misleading if it fails to include the name of the
broker or implies that a sales agent is responsible for the operation of
a brokerage...

Tuesday, November 28, 2017

A mortgage resource website reports that a household in the Metroplex
needs more than $59,500 in annual income to qualify for a median-priced
house.​ That's roughly $4,100 more than the income needed at the national level.

The study, by HSH.com, is based on a median home price of $249,000 and a 20 percent down payment.​

Tuesday, November 14, 2017

World Class Mortgage Officer, Joe Boggs of Supreme Lending tell us how to take the mystery out of staging a home to sell:

Remember the last time you visited a new home development? How did
you feel touring the model? Usually, pleasant memories come to mind
about how well the home looked. That's because it was "showcased"
properly.
Home showcasing is not about remodeling, fixing up or making your
home look sterile. Instead, it focuses on simple steps to make your home
show like a model without spending a lot of money. The secret is
setting the stage, which helps potential buyers imagine themselves and
their families at home in your "home for sale."Strip Down and Build Up
The first step is to clear the set. Take out extraneous furniture,
decorations, pictures, etc. Take each room down to its most basic form,
opening up the living space as much as possible. Then build it back up
to the way you want it to look, as simple as possible, and without
clutter.
Make the strip-down process simpler by stowing packed boxes in a
staging area like the garage, or by renting a storage space to hold
extra furnishings while your home is on the market. In essence, pack up
early.Props
When building the set, try to make each room tell a story. Help
potential buyers see themselves in each room. A clever arrangement of
props will make it easy for buyers to imagine writing a letter at the
desk in the kitchen, clicking on the television and enjoying a bowl of
popcorn, turning on the stove and preparing a holiday repast.
Themes for a room can help you narrow down how to display it. You
can, of course, stage the room as you use it now, or choose a particular
motif, i.e. Southwestern, country style, international. Or you could
pick an activity to illustrate on your stage, i.e., relaxed office or
library, gourmet cooking, resort or vacation living. What would you like
to do in that room? Place the props needed for those activities
throughout the room.Lighting
Lots of lights open up a room and give it a larger appearance. If
you've been using 50-watt bulbs, move up to 100 watts. If a large living
room has only one lamp, move in another. Open curtains and add mirrors.
When it's being shown, the home should be bright. It makes your home
look like it's in center stage.Do Your Homework
Ask what buyers are looking for in your community. What are they
saying about the homes they don't buy? And what is it about the homes
that are selling that make them so popular? By determining your ideal
target buyer, you will better understand how to merchandise your home.
Our experience in your specific neighborhood can help you answer all
these questions and more.Aroma Therapy
Almost as important as how a home looks is how it smells. Ask a close
friend to walk through your home—objectively—and take a whiff here and
there. Are there any offensive odors? Is it too perfumy? Too drab?
Stale? Musty? Are there pet odors (which should be fixed—not covered
up)? What can you do to impress potential buyers with aroma therapy?
When it comes time to sell your home, you'll want to work with a real
estate professional who knows all aspects of the selling
process—including showcasing. Call us today to talk about how we can
help you display your home to sell for the best possible price!

Email J.T. for a "backstage pass" to staging your home to sell... jt@jtoden.net

Friday, October 27, 2017

73-acre Stacy Green gets green light

​​​

Steve Brown with the Dallas Morning News​​reported that the Allen City council has approved​ the development of the 73-acre Stacy
Green mixed-use project at the southwest corner of US 75 and Stacy Rd.
The project ​will include over 600 rental units and 500,000 sf of
office, commercial, and retail space. A theater and hotels are also
planned.

A 13-acre greenbelt and park along Cottonwood Creek will be dedicated to the city but maintained by the developer.

Provident Realty Advisors and Glaser Retail worked on the plans for 18
months. GFF and Architecture Demarest did design and renderings. Stream
Realty Partners is working on the office component.

The site is one of the last remaining pieces of the old Stacy family farm.

Monday, October 16, 2017

Steve Brown, real Estate Editor at the Dallas Morning News Says that Toll Brothers has purchased four acres at the northeast corner of W. Commerce and Pittman Streets.
A seven-story, 280-unit rental community is planned on the site, which is currently occupied by an industrial building.

"The community will break ground in June 2018, with initial deliveries
scheduled for winter of 2019," Toll Brothers' John Piedrahita said. Davidson Bogel Real Estate brokered the deal.

Wednesday, April 19, 2017

Whatever you call them (soon, 'us') they are big business. With home values skyrocketing, why wouldn't we see an uptick in multifamily construction? In fact, the industry has been growing for decades at a strong pace. But if Mom and Dad can sell their house they paid $60,000 for in 1962 for half a million dollars, why not? But where will they live? They won't go buy another house at these crazy prices. I know, a brand new senior-living high rise!

Steve Brown with the (Dallas Morning News) says that construction starts this week on a two-tower seniors residential development across the street from NorthPark Center.

The $136 million Ventana development at the southwest corner of US 75
and Northwest Hwy. will have over 225 independent- and assisted-living
apartments as well as memory-care, skilled-nursing, and rehabilitation
facilities.

Ventana is scheduled to open in mid-2019.

D2 Architecture designed the two 12-story towers. Whiting-Turner is the
general contractor. Buckner Retirement Services will operate the
community.​

Dallas - Fort Worth Grows and Grows!

Bloggers I like & other Off Topic Links

Real Estate Agents that Don't Suck... (a rant)

REALTOR Ethics Codes prohibit me from posting who the terrible 80% are and why they are a scourge to our industry. But no one says I can't tell you who the good ones are!

J.T. Oden II, JTOden Realty

Jennifer Davis

Joe Boggs, Integrity First Mortgage

Jessica Bierstedt

Nancy Baldwin

Lori "CHICK" Miller

Angela Katai

Cori Sharp, KW

Donna McDonald, Ebby

Nancy White, Remax

Jason Pardue, KW

Linda Chady Chase, KW

There are some really lousy agents out there and lousy loan officers too. A client of mine once told me that he read an article that said 80% of licensees were awful. I agree with that, unfortunately. There are even whole brokerages devoted to sub-standard work. The REALTOR code of ethics prohibits me from giving you a list of all the lousy ones, much less telling you why they are so poor. Just because they are not listed doesn't mean they are lousy... but if they aren't on this list, assume the worst... just to be safe.